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Business Segment Information
 3 Months Ended
Mar. 31, 2012
Business Segment Information [Abstract]  
Business Segment Information

Note 2—Business segment information:

 

Business segment

   

Entity

    % controlled at
March  31, 2012		  

Chemicals

    Kronos      80 % 

Component products

    CompX      87 % 

Waste management

    WCS      100 % 

Our control of Kronos includes 50% we hold directly and 30% held directly by NL. We own 83% of NL. Our control of CompX is through NL.

 

     Three months ended
March  31,		  
     2011     2012  
     (In millions)  

Net sales:

     

Chemicals

    $ 420.4      $ 561.3   

Component products

      34.8        35.5   

Waste management

      .5        1.1   
  

 

 

    

 

 

  

Total net sales

    $ 455.7      $ 597.9   
  

 

 

    

 

 

  

Cost of sales:

     

Chemicals

    $ 274.6      $ 300.4   

Component products

      26.1        26.0   

Waste management

      6.1        7.6   
  

 

 

    

 

 

  

Total cost of sales

    $ 306.8      $ 334.0   
  

 

 

    

 

 

  

Gross margin:

     

Chemicals

    $ 145.8      $ 260.9   

Component products

      8.7        9.5   

Waste management

      (5.6 )      (6.5 ) 
  

 

 

    

 

 

  

Total gross margin

    $ 148.9      $ 263.9   
  

 

 

    

 

 

  

 

     Three months ended
March  31,		  
     2011     2012  
     (In millions)  

Operating income (loss):

     

Chemicals

    $ 103.5      $ 211.3   

Component products

      8.8        2.9   

Waste management

      (9.0 )      (9.6 ) 
  

 

 

    

 

 

  

Total operating income

      103.3        204.6   

Equity in earnings of investee

      (.1 )      .1   

General corporate items:

     

Securities earnings

      7.4        7.1   

Insurance recoveries

      .4        1.1   

General expenses, net

      (6.6 )      (20.3 ) 

Loss on prepayment of debt

      (3.3 )      —     

Interest expense

      (17.2 )      (13.5 ) 
  

 

 

    

 

 

  

Income before income taxes

    $ 83.9      $ 179.1   
  

 

 

    

 

 

  

Segment results we report may differ from amounts separately reported by our various subsidiaries and affiliates due to purchase accounting adjustments and related amortization or differences in the way we define operating income. Intersegment sales are not material. We received approximately $7.5 million for a patent litigation settlement in the first quarter of 2011, which is included in the determination of Component Products operating income, see Note 11.